VI. CASE STUDY N0. 3 WELCO COMPANY During the audit of 1Welco Company, the auditor noted in vouching items in Travel Expense that a receipt for $7'50 for the dinner of a salesman with a prospective customer seemed excessive. Upon closely examining the receipt, it seemed like a 1 had been changed to a 7Changing the receipt from $150 t $750. Upon examining other items, two other dinner bills appeared to have been altered similarly. Yet, the auditor decided that at most a few thousand dollars were involved for a multi-billion dollar company the amount was clearly not material. Since the risk of material fraud appeared remote, no additional work was done. 1. What is the auditor's obligation, if any, to communicate this matter under SAS No. 99